Nexo Price Update
Nexo’s current price, at the time of this writing, is $0.1101 USD, up by approximately 2.42% from the day prior. Yesterday’s up day is a reversal of the day before it; in terms of trend, though, note that the current price is now 2.6% above its 20 day moving average, and is currently in an up trend over the past 14 days. Another data point we may find worthy of observation is that price for Nexo has increased 16 of the previous 30 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 48.9% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.100879 and $0.113741 based on its momentum and volatility over the past 14 days. Price’s current proximity to the top of the range may make selling an attractive opportunity to traders interested in trading the range.
The currency’s market cap currently stands at $62 million US dollars.
Straight Off the Chain
349 transactions amongst holders of Nexo occurred yesterday. In terms of estimating the number of holders, over the past day the total number of wallets holding Nexo has gone up by approximately 60. In terms of recurring usage, we can note that 1,342 wallets have sent or received coins in the past month, while 116 have in the past day.
Observing Nexo’s Richest Wallets
And in regards to wealth distribution, note that the top 1,000 Nexo wallets hold over 109.37% of the token’s total money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 4.35% of the currency’s total money supply. Exchange ownership grew by 0.31% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.1% over that time period. As for the Nexo’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.
What’s Going on Social Media?
If you are interested in following Nexo on social media, Twitter, where it has 48,888 following it, may be a good place to start. Here is the Twitter page for Nexo.
Article by SixJupiter
